Gwinnett County Property Division Attorney
Assisting Clients Through The Property Division Process in Georiga
All property acquired during the marriage from earnings of either spouse, no matter whose name it is in or who earned the money with which the property was acquired, is subject to equitable division of property by the court. Equitable division is defined as what is fair and reasonable under the circumstances. An equitable division does not have to be an equal division.
What is Considered Marital Property in Georgia?
Property brought into the marriage by one of the marital partners is a non-marital asset and is not subject to equitable division.
Property received by either spouse through gift, inheritance, bequest, or devise remains the separate property of that party and is not subject to equitable division unless the appreciation in the value was caused by efforts of either party during the marriage. A spouse's business, bank accounts, IRAs, 401(k)s, pensions, inventory, accounts receivable, automobiles, and real property may be subject to equitable division.
Contact Daniels & Taylor, P.C., to schedule an appointment for an office consultation with one of our attorneys to discuss your property rights in a divorce. We will use our education and experience in law, business, and accounting to advise and assist you in seeking your fair share of property division.
How is Property Divided in Georgia?
In Georgia, the process of property division adheres to the principle of equitable distribution. This means that marital assets and debts are divided fairly but not necessarily equally.
Marital assets typically include real estate, vehicles, financial accounts, investments, and other valuable possessions acquired during the marriage. Debts incurred during the union are also subject to division. The court considers various factors when determining the equitable distribution of property, including:
- Duration of the Marriage: The course of the marriage often influences how assets are divided. Short-term marriages may see a more equal distribution, while long-term marriages may involve a more nuanced approach.
- Financial Contributions: The court assesses each spouse's financial contributions to the marriage, including income, homemaking, and childcare responsibilities.
- Earning Capacity: The court considers the future earning capacity of each spouse, taking into account their education, skills, and employability.
- Conduct During the Marriage: While Georgia is a no-fault divorce state, the court may still consider any misconduct that had a financial impact on the marriage.
Qualified Domestic Relations Orders (QDROs)
A QDRO can be used to divide or transfer funds from a pension plan or a Defined Benefit Retirement Plan (usually a 401(k) or a profit-sharing plan) from one spouse to another incident to a divorce without tax consequences or penalties.
The drafting of a QDRO involves federal (ERISA) and state laws and many complex or technical rules and requirements.
Contact Our Property Division Lawyer in Gwinnett County Today
If you are facing the complexities of property division, Daniels & Taylor, P.C. is here to provide the legal guidance and representation you need. Our Gwinnett County property division attorneys combine legal expertise with a commitment to understanding the unique circumstances of each case. We are here to help you navigate the legal intricacies and secure a fair and equitable resolution for your property division matters. Trust us to be your advocate during this challenging time. From our office in Lawrenceville, our lawyers represent clients in communities throughout Gwinnett County, Georgia.
Professional & Trustworthy Clients are always our number one priority. We treat every client with the utmost respect and professionalism throughout every aspect of their case.
For over 25 years we have been recognized by our community and have been voted Best of Gwinnett from 2015-2021.
5 Star Ratings Our clients love working with us! Visit our reviews page to read more about their experiences.
Established in 1994 Our firm has been serving clients in Gwinnett County for over 25 years. Lawrenceville is our town!